Personal transfers up to AMD 300,000 not taxable - RA State Revenue  Committee

ArmInfo. Transactions that do not exceed the threshold of 300 thousand drams, which are deductible income, are not subject to declaration as part of the general income declaration. At the same time, the threshold of 300 thousand drams applies to each transaction, and not to the amount of similar  transactions, the press service of the State Revenue Committee of  Armenia reports.

1. Are the incomes indicated in the declaration subject to taxation?

Not all incomes indicated in the declaration are subject to taxation.  For example, if you are a taxpayer and have to file an income tax  return in 2025 (for income received in 2024) and you have additional  income in addition to your salary, such as transfers to your bank  account, card as a gift from a family member or other person, or  amounts received as a gift from abroad, indicating these amounts in  the tax return: you will not have any tax liabilities.

2. Is your real estate and movable property subject to declaration?  No, real estate and movable property are not subject to declaration.  Only income received during the reporting year 2024 must be included  in the annual income tax return.

3. Are your expenses subject to declaration? No, expenses are not  subject to declaration, only income received during the reporting  year 2024 must be declared.

4. Do you need to declare funds transferred to your bank account or  card? The annual personal income tax return includes income received  by an individual during the reporting year. Therefore, if the amounts  transferred to a bank account or card are considered income received,  they are filled in the relevant sections of the declaration.

Non-taxable income received as a gift, gratuitously, loan or one-time  income from the alienation of property cannot be included in the  declaration if it is less than 300 thousand drams. That is, if  transfers were made to your bank account or card as a gift during  2024, you must also include information about these amounts in your  declaration, but this income is NOT subject to taxation.

5. Should transfers between my own bank accounts be included in the  declaration? No, transfers between your accounts, cards or from  account to card and vice versa are NOT considered income and are NOT  included in the income tax return.

6. If you transferred money from a payment terminal to your account  or card, do you need to fill in this information in the return? No,  if you personally made a transfer to your account or card from a  payment terminal, then this is not considered income and should not  be included in the return.

7. If the person filing the return is also an individual  entrepreneur, should the income of the individual entrepreneur also  be indicated in the return? No, income from individual  entrepreneurship is considered income from entrepreneurial activity  and is not included in the return.

8. If you received money from abroad in 2024, should you include  these amounts in your declaration? The annual personal income tax  declaration includes income received by an individual during the  reporting year. Therefore, if the amounts transferred to you from  abroad are considered income received, they are filled in the  relevant sections of the declaration.

It should be remembered that non-taxable income received as a gift,  gratuitously, loan or one-time income from the alienation of property  cannot be included in the declaration if it is less than 300 thousand  drams.

That is, if you received transfers from abroad as a gift during 2024,  you must also include information about these amounts in your  declaration, but this income is NOT subject to taxation.

9. If you are a citizen of the Republic of Armenia and received a  salary from abroad in 2024, do you need to declare this income? Yes,  if you are a citizen of the Republic of Armenia, permanently residing  in Armenia, but work for a company located abroad, i.e. receive a  salary from abroad, then you are obliged to include this income in  your declaration. Moreover, this income will not be taxed in Armenia  if you have already received a taxable salary from a country where  the income tax is 20% or more. And if the income tax in this country  is lower than 20%, you will have to pay the difference in Armenia.

10. Should income received from abroad, which has already been taxed  in the country of origin, be taxed again in Armenia? If this income  was taxed abroad, you will pay in Armenia the difference between the  20% of the income and the tax paid abroad on this income.

11. If a resident citizen of the Republic of Armenia received income  from a person located abroad in exchange for any service, should this  income be included in the declaration? Yes, income received from  another individual in exchange for services is included in the  declaration, regardless of whether you received this income in  Armenia or abroad, and is subject to income tax at a rate of 20%.

12. Is a co-borrower required to declare a loan received jointly with  the borrower? No, a co-borrower does not include information about a  loan received during 2024 in the declaration.

13. Are income from deposits, debt securities (bonds), shares and  units subject to declaration? Yes, if you received income from  deposits, debt securities (bonds), shares and units in 2024, you are  required to include this information in your declaration.

14. If you rented out your property in 2024, do you need to include  income from it in your tax return? Yes, if you rented out your  property to another individual in 2024, you are required to file an  annual income tax return and pay 10% income tax to the state budget  (in the case of minors - a parent or guardian). If for some reason  you are not the filer, we only file rental income and income tax.

15. If you sold a property in 2024, do you need to include that  income on your tax return? Yes, if you sold a property to another  individual in 2024, you must include the income from the sale of that  property, which is considered non-taxable income.

16. Should gifts be included in the declaration? If you received real  estate, movable property or cash as a gift from another individual in  2024, this income is subject to declaration, but this income is NOT  taxable.  It should be remembered that non-taxable income received as  a lump sum in the form of gifts cannot be included in the declaration  if it is less than 300 thousand drams.

17. Do I need to declare cash gifts received on different occasions?  Yes, if you received cash gifts from individuals on different  occasions during 2024, you must also include information about these  amounts in the tax return, but this income is NOT taxable. It should  be remembered that non-taxable income received as a lump sum in the  form of donations cannot be included in the declaration if it is less  than 300 thousand drams.

18. If you loaned money to someone, is the amount returned subject to  declaration? No, the amount of the loan being returned is not  considered income and is not subject to declaration.

19. Are savings subject to declaration? No, savings from income  received in different years are not subject to declaration (savings  are not considered income received in a given year).

20. If a citizen of the RA received income in exchange for a service  during 2024, should he/she declare this income? Yes, if you received  income for any services in 2024, this income must also be included in  the declaration, which is subject to taxation.

21. Should benefits, pensions, scholarships, etc. be included in the  declaration? Yes, if you received benefits, pensions, disability or  military pensions, scholarships, etc. during 2024, information about  this income must be included in the declaration, but this income is  NOT subject to taxation.

22. Do I need to declare one-time and monthly child care benefits, as  well as alimony? If you received a lump sum and monthly payment of  child support or alimony in 2024, the parent receiving that amount  must include that income on their tax return when filing, but the  income is NOT taxable.

23. Should winnings be included in the tax return and are they  taxable? Yes, if you had winnings in 2024, you must include them in  your tax return. Casino, betting and lottery winnings are NOT  taxable.

24. Do I need to declare travel expense reimbursement amounts? Yes,  if you were reimbursed for your travel expenses in 2024, you must  include information about this income in your tax return. This income  is not taxable. Please note that travel expense reimbursement amounts  are supplemented if they exceed 3 million drams per year; travel  expense reimbursement amounts that do not exceed 3 million drams  cannot be declared.